AEW UK REIT dividend remains uncovered as tenant administrations hit earnings

On Thursday (25 January), the £218m trust reported earnings per share for the quarter of 1.83p, which came short of the 2p dividend. Management noted earnings were constrained by 28p due to Wilko and CJ Services both entering administration. "EPRA earnings per share have been negatively impacted by 28p due to two tenants entering administration during the period, without which the company's dividend would have been fully covered by earnings this quarter," the trust said. According to Numis, AEWU's 2p dividend, which is equivalent to an annualised yield of 8.3%, has not been covered by...